Belief Growing A Chicago Bears Ownership Shakeup Is Coming

George McCaskey reiterated many times that his intention has never wavered that the Chicago Bears would remain under the control of the McCaskey family. Still, people wondered if Virginia McCaskey’s death would cause some problems when the time came. Sure enough, she passed last year at the age of 102. Thus far, nothing has happened. However, there are rumblings that something big might be on the horizon. No, it’s not a full-blown sale, but it could be something that changes the makeup of the ownership structure.

Peggy Kusinski was on ESPN 1000 filling in for Marc Silverman on Waddle & Silvy. She revealed that a significant tax windfall on the horizon concerns many in the current ownership group. Due to something called the inheritance tax, where people inheriting property and resources from a deceased family member, the McCaskey family could owe upwards of $160 million. Many can’t afford that. So it appears some plans are being put in motion to shuffle things up. That includes a longtime shareholder buying up more while possibly bringing in outside investors for the first time in many years.

Given the organization’s prestige, there will be no shortage of interested parties.

“They have to take on new investors. So what I have been told is that Patrick Ryan has been spending a lot of time at Halas Hall for the last six months. And he’s likely going to be buying additional shares of the Bears, likely “from Virginia,” but it could also be from any of the other family members who can’t financially even afford (to pay the tax bill).

…How are they going to get that money? Well, you take on additional investors in the team. Not only Patrick Ryan, but I’m told that he will be along with another group of investors from outside of the family (and outside of the McKenna and Ryan families, as well).”

Patrick Ryan always felt like the name to watch for the Chicago Bears.

The longtime businessman has been a part-time franchise owner for the past 35 years. He is the largest minority stakeholder and has the right of first refusal if the McCaskeys ever decide to sell the team outright. As somebody worth an estimated $12.6 billion, it isn’t surprising that he would be the one to help alleviate this tax issue by buying some family members out of their shares. They get to walk away with a hefty cash settlement while he gains some extra control of the organization. However, Ryan is 87 years old. His own age concerns can’t be ignored, which is why the franchise likely brings in another investor group. While the McCaskeys will maintain majority control of the Chicago Bears, this shift could have long-term ramifications down the road.